Hundreds of apartment owners in an inner-city development have been told they may have to cough up $45,000 each in special levies to cover the estimated $12.5 million cost of removing and replacing 10,000 square metres of potentially deadly flammable cladding.
Residents of The Quay in Sydney’s Haymarket are mulling over whether to proceed with legal action in the Supreme Court of NSW against builder Parkview Constructions and Chinese developer Ausbao for a major defect claim.
The NSW government in August this year declared combustible cladding a banned product, meaning it must be removed from any building on which it has been installed, often to the tune of millions of dollars.